Overview of New Hampshire Taxes
New Hampshire is known as a low-tax state. But while the state has no personal income tax and no sales tax, it has the third highest property tax rates of any U.S. state, with an average effective rate of 2.20%. Consequently, the median annual property tax payment here is $5,388.
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To calculate the exact amount of property tax you will owe requires your property's assessed value and the property tax rates based on your property's address. Please note that we can only estimate your property tax based on median property taxes in your area. There are typically multiple rates in a given area, because your state, county, local schools and emergency responders each receive funding partly through these taxes. In our calculator, we take your home value and multiply that by your county's effective property tax rate. This is equal to the median property tax paid as a percentage of the median home value in your county.
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Jennifer Mansfield, CPA, JD/LLM-Tax, is a Certified Public Accountant with more than 30 years of experience providing tax advice. SmartAsset’s tax expert has a degree in Accounting and Business/Management from the University of Wyoming, as well as both a Masters in Tax Laws and a Juris Doctorate from Georgetown University Law Center. Jennifer has mostly worked in public accounting firms, including Ernst & Young and Deloitte. She is passionate about helping provide people and businesses with valuable accounting and tax advice to allow them to prosper financially. Jennifer lives in Arizona and was recently named to the Greater Tucson Leadership Program.
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New Hampshire Property Taxes
New Hampshire is known as a low-tax state. But while the state has no personal income tax and no sales tax, it has the third highest property tax rates of any U.S. state, with an average effective rate of 2.20%.
In terms of median property tax payments, New Hampshire’s property taxes also rank among the top three in the nation. The median property tax homeowners in New Hampshire pay is $5,388.
Looking to calculate your potential monthly mortgage payment? Check out our mortgage guide for New Hampshire. There you will find information about mortgage rates and details about getting a mortgage in the Granite State.
A financial advisor in New Hampshire can help you understand how homeownership fits into your overall financial goals. Financial advisors can also help with investing and financial plans, including taxes, homeownership, retirement and more, to make sure you are preparing for the future.
How New Hampshire Property Taxes Work
New Hampshire has both state and local property taxes. In fact, any given property can pay up to four different property taxes: a county tax, a town tax, a local school tax and the state education tax.
To determine the amount on which to base taxes, local assessors conduct annual appraisals. The goal of these appraisals is to calculate the full market value of the property. In general, assessors do not visit properties. They use mass appraisal techniques to determine property values based on market and property data.
That appraisal process is inherently imperfect, and the state of New Hampshire recognizes that different areas have slightly different appraisal procedures. To compensate for appraisal differences, the state equalizes values between counties. This involves applying a ratio to the property’s market value in order to balance the property values between all areas. That ratio is used to determine the state education tax rate, which varies from city to city, as described below.
Homeowners who disagree with their home’s valuation can file an abatement request. That will generally lead to a review of valuation, and a possible refund of taxes paid.
New Hampshire Property Tax Rates
The state and a number of local government authorities determine the tax rates in New Hampshire. Towns, school districts and counties all set their own rates based on budgetary needs. Tax rates are expressed in mills, with one mill equal to $1 of tax for every $1,000 in assessed property value.
As mentioned earlier, there are four different types of property taxes in New Hampshire. Towns collect property taxes which total about County taxes averaged 2.71 mills. There is a local school tax, which averaged $11.33 across the state, and there is a statewide education tax that averages 2.15 mills.
Because mill rates can differ so much between counties and towns, it’s easiest to compare property taxes using effective property tax rates and not mill rates. Effective property tax rates are property taxes paid as a percentage of home value. The table below shows the average effective property tax rate for every New Hampshire county, along with median home value and median annual payments.
|County||Median Home Value||Median Annual Property Tax Payment||Average Effective Property Tax Rate|
Looking to calculate your potential monthly mortgage payment? Check out our mortgage calculator.
Hillsborough County is New Hampshire’s most populous county, with more than 400,000 residents. Its largest city is Manchester, which is also the biggest city in the state. In Manchester, the total tax rate is 23.68 mills. The average effective property tax rate in Hillsborough County is 2.26%.
Homeowners in southeast New Hampshire’s Rockingham County pay some of the highest annual property taxes of anywhere in the state. The median annual property tax payment in Rockingham County is $6,153. That’s almost $1,000 more than the state average, and is nearly triple the the national average, which sits at $2,090.
Located in central New Hampshire, north of Hillsborough County, Merrimack County has the fourth highest property tax rates of the state's 10 counties. The average effective property tax rate in Merrimack County is 2.39%.
The largest city in Merrimack County is Concord. The total mill rate in Concord is about 28.19 mills. Of that, more than half went to schools. The municipality collected about 15 mills for schools, and the county collected 2.75.
Strafford County is located in eastern New Hampshire, along the border with Maine. It contains the cities of Dover and Rochester. The average effective property tax rate in Strafford County is 2.41%. At that rate, the property taxes on a home worth $200,000 would be $4,820 annually.
Thinking about buying a home in the White Mountains? Central New Hampshire’s Grafton County offers residents relatively low property tax rates. The average effective property tax rate in Grafton County is 2.03%, good for third lowest in the state.
Located in southwest New Hampshire, along the borders with Vermont and Massachusetts, Cheshire County has the second highest property tax rates of any county in New Hampshire. The average effective property tax rate in Cheshire County is 2.67%.
Belknap County, which runs along the western shores of Lake Winnipesaukee, has among the lowest property tax rates in New Hampshire. In Laconia, the largest city in the county, the mill rate is 20.85 mills. In smaller towns, however, the rate is far lower. In Meredith, for example, the total rate was just 15.62 mills.
If you want to move to New Hampshire but don’t want to pay high property taxes, Carroll County may be your best bet. The average effective property tax rate in the county is 1.34%, far below the state average of 2.20%.
Likewise, the median annual property tax payment in Carroll County is $3,044. That means the typical Carroll County homeowner pays more than $2,000 less than the typical resident in the rest of the state.
Located in western New Hampshire, Sullivan County has the highest property tax rates in the state. The county’s average effective property tax rate is 2.68%. In Claremont, which is the largest city in the county, the total rate is 42.08 mills.
The median annual property tax payment in northern New Hampshire’s Coos County is $2,918, more than $2,000 less than the state mark. That is largely a result of the county’s relatively low home values. According to the U.S. Census Bureau, the median home value in Coos County is $123,200, lowest in New Hampshire.
Places Receiving the Most Value for Their Property Taxes
SmartAsset’s interactive map highlights the places across the country where property tax dollars are being spent most effectively. Zoom between states and the national map to see the counties getting the biggest bang for their property tax buck.
Our study aims to find the places in the United States where people are getting the most value for their property tax dollars. To do this, we looked at property taxes paid, school rankings and the change in property values over a five-year period.
First, we used the number of households, median home value and average property tax rate to calculate a per capita property tax collected for each county.
As a way to measure the quality of schools, we analyzed the math and reading/language arts proficiencies for every school district in the country. We created an average score for each district by looking at the scores for every school in that district, weighting it to account for the number of students in each school. Within each state, we assigned every county a score between 1 and 10 (with 10 being the best) based on the average scores of the districts in each county.
Then, we calculated the change in property tax value in each county over a five-year period. Places where property values rose by the greatest amount indicated where consumers were motivated to buy homes, and a positive return on investment for homeowners in the community.
Finally, we calculated a property tax index, based on the criteria above. Counties with the highest scores were those where property tax dollars are going the furthest.